Biggest-ever defence exhibition – DefExpo – 2022 witnesses 451 MoUs, ToT agreements & product launches during Bandhan ceremony
- Press Information Bureau
- October 21, 2022
On October 20, 2022, during the Bandhan ceremony of the 12th DefExpo in Gandhinagar, Gujarat, four hundred fifty-one (451) Memoranda of Understanding, Transfer of Technology agreements, and product launches took place. 345 MoUs, 42 major announcements, 46 product launches, and 18 ToTs were among the 451. Gujarat contributed 28 MoUs and one product launch.
A total investment of Rs. 1.5 lakh crore (US$ 18.13 billion) is planned. A deal for 70 HTT-40 indigenous trainer aircraft valued at Rs. 6,800 crore (US$ 821.97 million) was signed by the Indian Air Force and Hindustan Aeronautics Limited.
The Defence Minister claimed in his speech at the ceremony, which culminated with three business days of DefExpo, that the event's 12th edition had written a new chapter on the development and prowess of India's defence industry. A robust and affluent "New India" that is fully prepared to stand shoulder to shoulder with major world powers, he said, is the beginning of a new era of self-reliance. The event's overwhelming success serves as evidence that India is on track to take the lead in the world of defence manufacture in the years to come.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
Partners
